There is a newer version of the Tennessee Code
2016 Tennessee Code
Title 56 - Insurance
Chapter 59 - Guaranteed Asset Protection Waiver Act of 2008
§ 56-59-107. Lease or sale associated with a commercial transaction -- Applicability of specified sections.
TN Code § 56-59-107 (2016) What's This?
(a) Sections 56-59-103(c), 56-59-105 and 56-59-108 are not applicable to a GAP waiver offered in connection with a lease or sale associated with a commercial transaction.
(b) For purposes of subsection (a), "commercial transaction" means a transaction involving the sale or lease of a motor vehicle that is intended or will be used primarily for a purpose other than personal, family or household use.
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